Technical analysis of GBP/USD for June 15, 2018
June 15, 2018 12:21 pmVideo
Latest News
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
Overview:
The GBP/USD pair opened below the weekly pivot point (1.3429). It continued to move downwards from the level of 1.3429 to the bottom around 1.3225. Today, the first resistance level is seen at 1.3429 followed by 1.3580, while daily support 1 is seen at 1.3225. Furthermore, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.3225. So it will be good to sell at 1.3250 with the first target of 1.3200. It will also call for a downtrend in order to continue towards 1.3106.
The strong daily support is seen at the 1.3106 level, which represents the double bottom on the H4 chart. According to the previous events, we expect the GBP/USD pair to trade between 1.3250 and 1.3106 in coming hours. The price area of 1.3300 remains a significant resistance zone. Thus, the trend is still bearish as long as the levels of 1.3300/1.3429 is not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.3429, then a stop loss should be placed at 01.3475.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: